There’s a ‘staggering shortage of homes on the market’: economist

There’s a ‘staggering shortage of homes on the market’: economist


Sarah PaynterReporter

Despite an economic downturn this summer, a homebuying frenzy boosted home prices by almost 9% and drove available housing inventory down 30% in August compared to the same time last year, according to Zillow.

A foreclosure moratorium on federally-backed mortgages (now extended through December 31), which was designed to keep people in their homes during the coronavirus pandemic, has inflated the housing market, according to economists.

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